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by medvezhenok
1849 days ago
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Actually, if you make $1M in W2 income in San Francisco, your tax burden (from taxes on income) is almost exactly 50%. You can verify in the link below: 330K federal taxes, 106K state, 30K FICA (employee contribution) and 30K FICA (employer contribution) That adds up to 496K / $1M in taxes on income, or effective rate of 49.6%. If you're married, however, that drops to ~45% effective. https://smartasset.com/taxes/income-taxes#qwJ9noj3c1 |
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